Renting? Here’s Why You Need a Contents Insurance
Queensland is no stranger to severe weather, and with La Nina weather pattern forecasted to happen this summer, it is a great opportunity to consider taking out a contents insurance whether you own a home or rent it.
This comes especially beneficial for you to protect your belongings, as most properties come unfurnished, so when you move in you bring in your own furniture, décor and appliances, or in other words – contents.
What counts as contents? Generally, just about anything in your rental home that isn’t bolted down. This means it can anything from your kettle to the couch. This is a general definition, but every provider and policy will have differences in what they define as contents, so make sure to read all the information carefully. Keep in mind that most insurers have limits for how much you can claim for certain high-value items like jewellery, watch or artwork.
How much does contents insurance cost? There’s no one covers all. It varies and depends on various factors like where your property is located, what type of property it is, what security features you have and more. The best you can do is to shop around and see what options are available for you that would match your lifestyle and circumstances.
What is covered in contents insurance? It covers the cost of repairing or replacing your belongings if they’re lost or damaged in one of the insured events covered by the policy you choose. Usually, insurers cover the same basic list of events, but each would have their own definitions, restrictions and exclusions. Here’s the list of insured events:
- Fire and explosion
- Flood (something optional)
- Storm and rainwater
- Accidental breakage of glass, ceramics etc.
- Earthquake and tsunami
- Theft and attempted theft
- Vandalism and malicious damage
- Impact damage (e.g. falling trees)
- Sudden escape of liquid (e.g. burst pipes)
- Accidental loss or damage – it is usually included with top tier products
Protect your contents, especially in the severe weather season as you never know if your property is going to be affected by any of the events listed above.